I’m not sure if I’ve mentioned it before, but I really like Google Docs. This week I’m using Docs to create another free trading tool – a customized trading form.
Docs lets you create forms, complete with multiple choice, check boxes, text boxes, and more. So I’ve created a sample form that lets you record your trades, which in turn tracks the inputs in a spreadsheet. You can also view the results of the forms in a summary view, with charts and graphs and so forth. Normally, you would create a form to share with others and collect their responses. In our example, you are just collecting your own data.
Here’s a screenshot of an example form I put together in about five minutes. You can make one as brief or complex as you want, just make sure you tailor it to your style; make it something you will use. When you get your form ready, you’ll have a URL you can click on, save it as a bookmark or favorite, and voila! Now you are one click away from accessing your new trading form next time you are ready to trade. And, yes, you can also embed your form into a website, like your blog.
The spreadsheet tracking and summary review stuff is neat, but one of the biggest benefits from something like a trading form is creating the habit of justifying and quantifying the trade before you put it on. Clearly, if you scalp in and out of the market hundreds of times each session, there is probably a more efficient way to track your trading. Otherwise, be looking at ways you can differentiate yourself from the mass of traders who never succeed. Do most of the unprofitable traders take these kinds of steps? If not, it may be another thing that can help separate you from the trading status quo.
